Peraso (PRSO) investor relations material

Market position and technology

• Recognized as a pioneer in high-performance 60 GHz mmWave wireless technology, with over 2 million devices sold and 60 issued or pending patents, including key claims for the IEEE 802.11ay standard.

• Solutions target diverse markets: fixed wireless access (FWA), defense, tactical communications, and edge AI devices.

• mmWave technology operates in the 24–71 GHz spectrum, offering higher data rates, lower latency, and less congestion than traditional wireless.

Market opportunity and applications

• Global mmWave chipset market projected at $5B in 2025, growing at a 25% CAGR through 2033; military & defense mmWave market expected to grow at 41.8% CAGR from 2023 to 2030.

• FWA solutions enable gigabit internet in rural and dense urban areas, with deployments in the US, South Africa, and Kenya.

• Tactical communications benefit from stealthy, jam-resistant mmWave links, with recent wins in drone IFF systems.

• Edge AI and autonomous systems leverage multi-gigabit, low-latency wireless for real-time data and model updates.

• Adjacent opportunities include transportation (train connectivity) and professional video delivery, where high data rates and low latency are critical.

Financial performance and outlook

• FY 2025 revenue was $12.2M with a gross margin of 58%; Q2 2026 revenue was $1.3M with a 63.7% gross margin.

• Operating losses continue, with FY 2025 non-GAAP operating loss at $4.3M and Q2 2026 at $2.1M.

• Medium-term (2–3 years) revenue growth targeted at 50%+ and long-term (3+ years) at 30%+; gross margin expected to exceed 55% long-term.

• Cash balance as of Q1 2026 was $3.3M, with total assets of $6.8M and stockholders’ equity of $4.9M.